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Crossword Puzzle
Crossword Puzzle

General Definitions Crossword

Integrate it into your platform
G. Classroom M. Teams
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General Definitions Crossword
 

Crossword Puzzle

General Definitions CrosswordOnline version

Identify accounting assets.

by Carla
1

Probable future economic benefits

2

Probable future sacrifices of economic benefits

3

Residual interest in assets

4

Exchange of resources and obligations between the company and other entities

5

Occur within a company without affecting outside parties

6

Chronological record of economic events

7

Summary of ending balances from ledger. Prepared at the end of the reporting period. Ensures that debits equal credits.

8

Adjust revenues and expenses for the reporting period

9

Initially defer expense by recording an asset. Recognize expense when asset is used/consumed.

10

Recognize a contract liability when cash is received before satisfying a performance obligation. Recognize revenue upon the satisfaction of a performance obligation through transfer of control of good/service.

11

Accrue expense at the end of an accounting period for incurred expense. Liability is derecognized later when paid.

12

Accrue revenue at the end of an accounting period when control of good/service is transferred to customer without cash receipt. Receivable is derecognized later when cash is received.

7
4
3
9
5
1
2
8
11
10
6
12
 
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